Forexpros – China’s economy slowed more-than-expected in the third quarter of 2011, growing at the slowest pace in two years, official data showed on Tuesday.
In a report, China’s National Bureau of Statistics said gross domestic product rose at an annualized rate of 9.1% in the third quarter, slowing from growth of 9.5% in the preceding quarter.
Analysts had expected China’s economy to grow at a rate of 9.2% in the third quarter.
The economy expanded by 2.3% in the third quarter from the previous three months of the year, after a 2.4% percent gain in the second quarter.
Following the release of the data, Asian stock markets were down sharply. Hong Kong’s Hang Seng Index plunged 4.3%, while Japan’s Nikkei 225 Index dropped 1.55%.
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